Two tips to net top dollar when you sell your home
Every home seller wants top dollar for their home, but many are going at pricing wrong, and it’s costing them money!
List your house with a realtor®
- Sellers think that by trying to sell their home on their own, they are saving the cost of the realtor commission. The truth is that study after study has shown that sellers who list their homes with a professional actually sell for much higher prices than those who try to go it alone.
“The median selling price for all FSBO homes was $210,000 last year. When the buyer knew the seller in FSBO sales, the number sinks to the median selling price of $151,900. However, homes that were sold with the assistance of an agent had a median selling price of $249,000 – nearly $40,000 more for the typical home sale.”
The truth is that realtors have a lot of tools to market your home that you do not have. Just listing your home on the local MLS (multiple listing service) gives your home thousands of times more exposure than the typical home owner has.
- Local realtors may not even know your house is for sale if it’s not listed.
- Realtors who list a home have the capability of broadcasting your listing via email to all realtors in a given area letting them know there’s a hot new listing to show.
- There are more than 5,000 realtors in the Portland metro area working with buyers. How can a single home owner compete with the sheer numbers of possible real estate professionals who might show your home to their buyers?
- You are free to go on vacation and leave the work to us.
- Most buyers prefer the seller NOT be home when they are viewing your home.
- We know what our buyers are looking for, so know what features to point out that could be just the right selling point for your home.
- Lock boxes give listing agents the capability of calling the buyers’ agent to follow up and get instant feedback from buyer viewings; and to keep those agents in the know if prices are changed, when offers are received, etc.
The MOST important reason to list your house is that most buyers prefer to work with a professional realtor. As a home owner, you are not permitted to use our state sanctioned offer forms (10 pages of legalese that protects both buyers and sellers). Most buyers want that protection, and the comfort of knowing that their realtor will watch out for them and guide them through the process.
In short, far more potential buyers will view your house when listed than when for sale by owner. The more people who view your house, the more likely you are to receive more and higher offers.
Price your house slightly below market value
Most sellers think that if they price their houses just above comparable value, they have room to negotiate with buyers. This actually makes some sense in a normal housing market. But NOT in a sellers’ market.
The truth is that the secret to making more money on the sale of your home is to get more buyers to view it. In order to do that, we will often price your house just below actual market value so it looks like it’s a bargain.
Home buyers are pretty savvy these days. They do their research and have a pretty good idea what a house should be priced at in any given neighborhood based on size and features. But, everyone wants to pay less for a house than fair value and that will bring hoards of buyers to your home. Who can resist a house on sale?
Because the buyers think they might get a good deal, more of them are likely to “throw their hats into the ring” to try to pick up this bargain. When there are multiple offers for a house, the buyers actually end up competing with each other for your house, rather than haggling with you over the price. This is why in multiple offer situations, so many homes end up selling for considerably more than list price, making you Mr./Ms. Seller “the winner.”
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